National Bank of Canada FI Decreases Stock Position in The Madison Square Garden Company $MSGS

National Bank of Canada FI reduced its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,223 shares of the company's stock after selling 2,204 shares during the quarter. National Bank of Canada FI owned 0.10% of Madison Square Garden worth $4,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Treasurer of the State of North Carolina increased its stake in shares of Madison Square Garden by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 8,172 shares of the company's stock valued at $1,844,000 after buying an additional 50 shares during the period. NewEdge Advisors LLC boosted its holdings in Madison Square Garden by 2.2% in the fourth quarter. NewEdge Advisors LLC now owns 2,914 shares of the company's stock worth $658,000 after acquiring an additional 62 shares in the last quarter. Marest Capital LLC boosted its holdings in Madison Square Garden by 4.1% in the first quarter. Marest Capital LLC now owns 1,751 shares of the company's stock worth $341,000 after acquiring an additional 69 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Madison Square Garden by 0.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,528 shares of the company's stock worth $2,376,000 after acquiring an additional 76 shares in the last quarter. Finally, Putney Financial Group LLC bought a new position in Madison Square Garden in the fourth quarter worth approximately $28,000. 68.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MSGS. Susquehanna began coverage on Madison Square Garden in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 target price on the stock. Guggenheim restated a "buy" rating and issued a $314.00 target price on shares of Madison Square Garden in a report on Tuesday, May 6th. Morgan Stanley raised their target price on Madison Square Garden from $215.00 to $220.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. dropped their target price on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $253.60.

Madison Square Garden Stock Up 0.2%

Madison Square Garden stock traded up $0.33 during mid-day trading on Monday, reaching $197.94. 54,919 shares of the company's stock were exchanged, compared to its average volume of 155,775. The business's fifty day simple moving average is $201.44 and its 200 day simple moving average is $197.56. The firm has a market capitalization of $4.75 billion, a PE ratio of -215.15 and a beta of 0.79. The Madison Square Garden Company has a one year low of $173.26 and a one year high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.42) by $0.35. The business had revenue of $203.96 million for the quarter, compared to analyst estimates of $151.00 million. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.16%. Madison Square Garden's quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. On average, sell-side analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

About Madison Square Garden

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.